By Andrea: http://oilshalegas.com
SM Energy Company (SM) recently released an operational update on the Eagle Ford Shale located in Webb and LaSalle County,TX:
SM Energy Company (SM) plans to begin 2011 operating two (2) drilling rigs on its high working interest 165,000 net acre position in Webb and La Salle counties in South Texas. Over the course of the year, the Company plans to ramp its operated rig count to four (4) drilling rigs, the vast majority of which will target portions of the acreage containing rich gas and condensate. Most of the wells planned for the year will be in the Briscoe and Galvan Ranch program areas where SM Energy has been active during 2010. A higher level of activity is also planned for La Salle County, Texas in order to de-risk and delineate that portion of the Company's acreage. In addition, a number of projects such as retained energy fracture stimulations and reduced spacing pilots are planned for next year across the play. Projects in the Eagle Ford shale program make up the largest portion of the Company's facilities budget of $65 million.
In the partner-operated portion of SM Energy's 84,500 net acre position prospective for the Eagle Ford shale, seven (7) rigs are currently being operated by the Company's partner, Anadarko Petroleum Company (APC). For 2011, SM Energy anticipates that Anadarko will operate an average of ten (10) rigs for the year.
SM Energy has allocated approximately $500 million for drilling investment in its total Eagle Ford shale position for 2011. Based on the activity levels contemplated above, capital expenditures net to the Company would be in excess of this amount next year. The Company is initiating a marketing process to sell down or joint venture a portion of its total position in the play, which will lead to a smaller amount of net investment in 2011. Bank of America Merrill Lynch has been engaged to market the Eagle Ford shale package on behalf of the Company. Although details of the composition of the sale package are still being determined, SM Energy currently estimates that it will sell roughly 20% to 30% of its total acreage position and that as a result the net spending for 2011 will be approximately $500 million after adjusting for capital expenditures associated with divested properties and possible drilling carries.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Showing posts with label Webb County. Show all posts
Showing posts with label Webb County. Show all posts
Monday, December 27, 2010
Wednesday, December 22, 2010
Webb County, TX: Eagle Ford Shale Update
By Andrea: http://oilshalegas.com
Regency Energy Partners (RGNC) recently announced a series of expansion projects along its rich gas gathering system in south Texas to meet increasing producer demand in the Eagle Ford Shale. Upon completion, these projects will provide an incremental 200 MMcf/d of capacity for the south Texas gathering system, allowing Regency to provide its customers with more robust gathering services.
"Regency's rich gas volumes in the south Texas region continue to ramp up and we have been aggressive in our plans to offer increased midstream services in the Eagle Ford Shale," said Mike Bradley, president and chief executive officer of Regency:
"Our current expansion projects position Regency for additional growth opportunities and will improve the operational efficiencies of our south Texas gathering system in this prolific shale play."
The expansions include:
The capital expenditures related to these expansions are already included in Regency's previously disclosed 2010 organic growth capital budget of $259 million and will be funded under its revolving credit facility. The expansion projects are scheduled to be completed in May 2011.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Regency Energy Partners (RGNC) recently announced a series of expansion projects along its rich gas gathering system in south Texas to meet increasing producer demand in the Eagle Ford Shale. Upon completion, these projects will provide an incremental 200 MMcf/d of capacity for the south Texas gathering system, allowing Regency to provide its customers with more robust gathering services.
"Regency's rich gas volumes in the south Texas region continue to ramp up and we have been aggressive in our plans to offer increased midstream services in the Eagle Ford Shale," said Mike Bradley, president and chief executive officer of Regency:
"Our current expansion projects position Regency for additional growth opportunities and will improve the operational efficiencies of our south Texas gathering system in this prolific shale play."
The expansions include:
- The construction of a 45-mile pipeline to loop a portion of the existing south Texas gathering system from western Webb County, Texas, to new facilities near I-35;
- The installation of 20,000 horsepower of compression;
- The installation of an additional 200 MMcf/d of dehydration capacity; and
- An additional 1,500 Bbl/d of stabilizer capacity.
The capital expenditures related to these expansions are already included in Regency's previously disclosed 2010 organic growth capital budget of $259 million and will be funded under its revolving credit facility. The expansion projects are scheduled to be completed in May 2011.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Enterprise Product Partners (EPD) and Chesapeake Energy Corp (CHK): Eagle Ford Shale Update
By Andrea: http://oilshalegas.com
Enterprise Products Partners L.P. (EPD) recently announced that they recently entered into a 10-year agreement with Chesapeake Energy Corp. (CHK) to handle a large portion of their natural gas production in the Eagle Ford Shale:
Chesapeake's gross acreage position currently comprises more than 625,000 acres in and around the oil and natural gas liquids - rich areas of the Eagle Ford Shale across Dimmit, LaSalle, McMullen, Webb, and Zavala counties located in South Texas. The agreements provide Chesapeake with a comprehensive package of midstream natural gas and NGL services, including firm commitments for gas transportation, processing, and NGL transportation and fractionation services.
"We are extremely pleased with our new agreements with Chesapeake, which represent one of the largest single producer commitments to date for Enterprise in the Eagle Ford Shale," said Michael A. Creel, Enterprise's president and chief executive officer. "The deal with Chesapeake marks the fifth major midstream transaction Enterprise has executed with Eagle Ford Shale producers in the past year, reflecting the strategic importance of our integrated and expanding assets serving the various demands of producers in the prolific region."
Enterprise has previously announced long-term commitments with Petrohawk, EOG, Anadarko and Pioneer.
Chesapeake's NGL-rich natural gas will initially be gathered and compressed by Chesapeake affiliate, Chesapeake Midstream Development, LLC, for delivery to a central location. Enterprise will then transport and process the NGL-rich gas at its existing facilities while a previously announced natural gas processing plant that is currently under development in Texas is completed. This cryogenic processing facility, expected to be completed early in 2012, is designed for an initial capacity of 600 million cubic feet per day (MMcf/d) and with an initial capability to extract as many as 75,000 barrels per day (BPD) of NGLs.
The NGL production from Chesapeake's gas will ultimately be transported on Enterprise's previously announced 127-mile NGL pipeline that will extend from the new gas processing plant to Enterprise's NGL fractionation complex in Mont Belvieu, Texas. This new NGL pipeline, also scheduled for completion in early 2012, is expected to have an initial capacity of more than 85,000 BPD and would be readily expandable to over 120,000 BPD.
Activity in the Eagle Ford Shale continues to increase as approximately 115 rigs working in the play have drilled more than 330 wells completed to date. Total current production from the play is estimated at approximately 425 MMcf/d of natural gas and 35,000 BPD of crude oil and condensate.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Enterprise Products Partners L.P. (EPD) recently announced that they recently entered into a 10-year agreement with Chesapeake Energy Corp. (CHK) to handle a large portion of their natural gas production in the Eagle Ford Shale:
Chesapeake's gross acreage position currently comprises more than 625,000 acres in and around the oil and natural gas liquids - rich areas of the Eagle Ford Shale across Dimmit, LaSalle, McMullen, Webb, and Zavala counties located in South Texas. The agreements provide Chesapeake with a comprehensive package of midstream natural gas and NGL services, including firm commitments for gas transportation, processing, and NGL transportation and fractionation services.
"We are extremely pleased with our new agreements with Chesapeake, which represent one of the largest single producer commitments to date for Enterprise in the Eagle Ford Shale," said Michael A. Creel, Enterprise's president and chief executive officer. "The deal with Chesapeake marks the fifth major midstream transaction Enterprise has executed with Eagle Ford Shale producers in the past year, reflecting the strategic importance of our integrated and expanding assets serving the various demands of producers in the prolific region."
Enterprise has previously announced long-term commitments with Petrohawk, EOG, Anadarko and Pioneer.
Chesapeake's NGL-rich natural gas will initially be gathered and compressed by Chesapeake affiliate, Chesapeake Midstream Development, LLC, for delivery to a central location. Enterprise will then transport and process the NGL-rich gas at its existing facilities while a previously announced natural gas processing plant that is currently under development in Texas is completed. This cryogenic processing facility, expected to be completed early in 2012, is designed for an initial capacity of 600 million cubic feet per day (MMcf/d) and with an initial capability to extract as many as 75,000 barrels per day (BPD) of NGLs.
The NGL production from Chesapeake's gas will ultimately be transported on Enterprise's previously announced 127-mile NGL pipeline that will extend from the new gas processing plant to Enterprise's NGL fractionation complex in Mont Belvieu, Texas. This new NGL pipeline, also scheduled for completion in early 2012, is expected to have an initial capacity of more than 85,000 BPD and would be readily expandable to over 120,000 BPD.
Activity in the Eagle Ford Shale continues to increase as approximately 115 rigs working in the play have drilled more than 330 wells completed to date. Total current production from the play is estimated at approximately 425 MMcf/d of natural gas and 35,000 BPD of crude oil and condensate.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Webb County, TX: Eagle Ford Shale Update
By Andrea: http://oilshalegas.com
SM Energy Company (SM) recently released an operational update on the Eagle Ford Shale located in Webb and LaSalle County,TX:
SM Energy Company (SM) plans to begin 2011 operating two (2) drilling rigs on its high working interest 165,000 net acre position in Webb and La Salle counties in South Texas. Over the course of the year, the Company plans to ramp its operated rig count to four (4) drilling rigs, the vast majority of which will target portions of the acreage containing rich gas and condensate. Most of the wells planned for the year will be in the Briscoe and Galvan Ranch program areas where SM Energy has been active during 2010. A higher level of activity is also planned for La Salle County, Texas in order to de-risk and delineate that portion of the Company's acreage. In addition, a number of projects such as retained energy fracture stimulations and reduced spacing pilots are planned for next year across the play. Projects in the Eagle Ford shale program make up the largest portion of the Company's facilities budget of $65 million.
In the partner-operated portion of SM Energy's 84,500 net acre position prospective for the Eagle Ford shale, seven (7) rigs are currently being operated by the Company's partner, Anadarko Petroleum Company (APC). For 2011, SM Energy anticipates that Anadarko will operate an average of ten (10) rigs for the year.
SM Energy has allocated approximately $500 million for drilling investment in its total Eagle Ford shale position for 2011. Based on the activity levels contemplated above, capital expenditures net to the Company would be in excess of this amount next year. The Company is initiating a marketing process to sell down or joint venture a portion of its total position in the play, which will lead to a smaller amount of net investment in 2011. Bank of America Merrill Lynch has been engaged to market the Eagle Ford shale package on behalf of the Company. Although details of the composition of the sale package are still being determined, SM Energy currently estimates that it will sell roughly 20% to 30% of its total acreage position and that as a result the net spending for 2011 will be approximately $500 million after adjusting for capital expenditures associated with divested properties and possible drilling carries.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
SM Energy Company (SM) recently released an operational update on the Eagle Ford Shale located in Webb and LaSalle County,TX:
SM Energy Company (SM) plans to begin 2011 operating two (2) drilling rigs on its high working interest 165,000 net acre position in Webb and La Salle counties in South Texas. Over the course of the year, the Company plans to ramp its operated rig count to four (4) drilling rigs, the vast majority of which will target portions of the acreage containing rich gas and condensate. Most of the wells planned for the year will be in the Briscoe and Galvan Ranch program areas where SM Energy has been active during 2010. A higher level of activity is also planned for La Salle County, Texas in order to de-risk and delineate that portion of the Company's acreage. In addition, a number of projects such as retained energy fracture stimulations and reduced spacing pilots are planned for next year across the play. Projects in the Eagle Ford shale program make up the largest portion of the Company's facilities budget of $65 million.
In the partner-operated portion of SM Energy's 84,500 net acre position prospective for the Eagle Ford shale, seven (7) rigs are currently being operated by the Company's partner, Anadarko Petroleum Company (APC). For 2011, SM Energy anticipates that Anadarko will operate an average of ten (10) rigs for the year.
SM Energy has allocated approximately $500 million for drilling investment in its total Eagle Ford shale position for 2011. Based on the activity levels contemplated above, capital expenditures net to the Company would be in excess of this amount next year. The Company is initiating a marketing process to sell down or joint venture a portion of its total position in the play, which will lead to a smaller amount of net investment in 2011. Bank of America Merrill Lynch has been engaged to market the Eagle Ford shale package on behalf of the Company. Although details of the composition of the sale package are still being determined, SM Energy currently estimates that it will sell roughly 20% to 30% of its total acreage position and that as a result the net spending for 2011 will be approximately $500 million after adjusting for capital expenditures associated with divested properties and possible drilling carries.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Saturday, September 25, 2010
Webb County, TX: Eagle Ford Shale Pipeline
By Andrea: http://oilshalegas.com
Swift Energy will soon begin construction of a pipeline through Webb County, TX in the Eagle Ford shale, expected to be completed by December 1, 2010:
Swift Energy Company (SFY) recently announced that it has entered into a long term agreement for natural gas gathering and treating services in South Texas with Meritage Midstream Services’ subsidiary, Eagle Ford Escondido Gathering. This agreement will involve the construction of a new pipeline to the Company’s Fasken operating area in Webb County, TX. Swift Energy will have up to 40 million cubic feet of gas per day of firm capacity on this new pipeline. The Company currently expects all required construction to be completed by December 1, 2010.
Swift Energy has agreed to a long term sales contract with Kinder Morgan Texas Pipeline LLC that is indexed to market and will be delivered to a new connection with the Kinder Morgan system.
Swift Energy has also extended contracts for two horizontal rigs currently drilling for the Company by 12 and 15 months from their current terms due to expire in December 31, 2010. With these contracts in place, the Company will enter 2011 with three South Texas horizontal drilling rigs under long term contracts.
“These separate agreements for dedicated gathering and drilling services further reduce Swift Energy’s exposure to the continuing tightness of oilfield services and gathering outlets facing operators in South Texas,” said Terry Swift, Swift Energy’s chief executive officer. “We expect an increase in operating activity in 2011 and have taken numerous steps to ensure that we can drill, complete and produce our wells without interruption due to third party service constraints.”
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Swift Energy will soon begin construction of a pipeline through Webb County, TX in the Eagle Ford shale, expected to be completed by December 1, 2010:
Swift Energy Company (SFY) recently announced that it has entered into a long term agreement for natural gas gathering and treating services in South Texas with Meritage Midstream Services’ subsidiary, Eagle Ford Escondido Gathering. This agreement will involve the construction of a new pipeline to the Company’s Fasken operating area in Webb County, TX. Swift Energy will have up to 40 million cubic feet of gas per day of firm capacity on this new pipeline. The Company currently expects all required construction to be completed by December 1, 2010.
Swift Energy has agreed to a long term sales contract with Kinder Morgan Texas Pipeline LLC that is indexed to market and will be delivered to a new connection with the Kinder Morgan system.
Swift Energy has also extended contracts for two horizontal rigs currently drilling for the Company by 12 and 15 months from their current terms due to expire in December 31, 2010. With these contracts in place, the Company will enter 2011 with three South Texas horizontal drilling rigs under long term contracts.
“These separate agreements for dedicated gathering and drilling services further reduce Swift Energy’s exposure to the continuing tightness of oilfield services and gathering outlets facing operators in South Texas,” said Terry Swift, Swift Energy’s chief executive officer. “We expect an increase in operating activity in 2011 and have taken numerous steps to ensure that we can drill, complete and produce our wells without interruption due to third party service constraints.”
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
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